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Goertek issued a notice stating that it had initially intended to purchase 100% of the equity in Mega Precision Technology Limited and Channel Well Industrial Limited. Both of these companies are wholly-owned subsidiaries of Luen Fung Commercial Holdings Limited. The acquisition was to be funded with roughly HK$10.4 billion from Goertek's own funds or funds it raised independently. However, because the two sides couldn't come to an agreement on crucial terms, the company has made the decision to scrap this equity purchase. This cancellation comes as a result of a mutual agreement between the two parties. As a consequence, Goertek won't be held responsible for any compensation or legal obligations. Moreover, this development is not expected to have a negative effect on the company's operational performance or financial standing.
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